Qualys (NASDAQ:QLYS) Updates Q3 Earnings Guidance

Qualys (NASDAQ:QLYS) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.28-1.36 for the period, compared to the consensus earnings per share estimate of $1.28. The company issued revenue guidance of $149.8 million to $151.8 million, compared to the consensus revenue estimate of $153.71 million. Qualys also updated its FY24 guidance to $5.46 to $5.62 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on QLYS. StockNews.com downgraded shares of Qualys from a buy rating to a hold rating in a research note on Saturday. Westpark Capital reissued a hold rating on shares of Qualys in a research note on Monday. Truist Financial dropped their price target on shares of Qualys from $175.00 to $165.00 and set a hold rating for the company in a research note on Wednesday, May 8th. Scotiabank initiated coverage on shares of Qualys in a research note on Friday, April 26th. They set a sector perform rating and a $172.00 price target for the company. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Qualys in a research note on Monday, May 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Qualys presently has an average rating of Hold and an average target price of $167.09.

Qualys Price Performance

Shares of Qualys stock traded up $4.07 on Tuesday, hitting $137.10. The company had a trading volume of 782,694 shares, compared to its average volume of 449,459. The firm has a market capitalization of $5.06 billion, a P/E ratio of 31.74 and a beta of 0.49. Qualys has a twelve month low of $131.00 and a twelve month high of $206.35. The stock has a 50-day moving average of $140.92 and a 200-day moving average of $158.41.

Qualys (NASDAQ:QLYS) last released its quarterly earnings results on Tuesday, May 7th. The software maker reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $145.81 million during the quarter, compared to analysts’ expectations of $145.67 million. Qualys had a net margin of 28.48% and a return on equity of 47.28%. Equities analysts predict that Qualys will post 3.42 EPS for the current year.

Insider Activity

In related news, insider Bruce K. Posey sold 1,339 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $143.35, for a total transaction of $191,945.65. Following the completion of the transaction, the insider now owns 58,947 shares in the company, valued at $8,450,052.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Bruce K. Posey sold 1,339 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $143.35, for a total value of $191,945.65. Following the transaction, the insider now directly owns 58,947 shares of the company’s stock, valued at $8,450,052.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joo Mi Kim sold 616 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $135.56, for a total transaction of $83,504.96. Following the completion of the transaction, the chief financial officer now directly owns 92,580 shares in the company, valued at $12,550,144.80. The disclosure for this sale can be found here. Insiders sold 29,099 shares of company stock worth $4,060,450 over the last quarter. 1.00% of the stock is currently owned by company insiders.

About Qualys

Qualys, Inc, together with its subsidiaries, provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally. It offers Qualys Cloud Apps, which include Cybersecurity Asset Management and External Attack Surface Management; Vulnerability Management, Detection and Response; Web Application Scanning; Patch Management; Custom Assessment and Remediation; Multi-Vector Endpoint Detection and Response; Context Extended Detection and Response; Policy Compliance; File Integrity Monitoring; and Qualys TotalCloud, as well as Cloud Workload Protection, Cloud Detection and Response, Cloud Security Posture Management, Infrastructure as Code, and Container Security.